en.Wedoany.com Reported - Canadian mining company Montage Gold (TSX: MAU; US-OTC: MAUTF) said recent exploration work at its Didievi project in Côte d'Ivoire has strengthened its argument that the mine could become its next development asset, sending shares higher.

In a statement on Tuesday, Montage said highlight hole BGDD26-090 at the Blaffo Guetto deposit intersected 15 meters at 20.97 grams per tonne gold from 127 meters downhole, and approximately 13 meters at 4.75 grams per tonne gold from about 168 meters. Another hole in the same area, BGDD26-093, intersected 27.4 meters at 8.46 grams per tonne gold at a depth of 184 meters. Both holes are part of a recently completed 40,000-meter drilling program aimed at expanding Didievi's existing resources and testing other targets.

A follow-up program covering 60,000 meters of drilling, estimated to cost $13.5 million (C$19 million), is planned for completion by year-end. Montage aims to rapidly advance Didievi's development, with environmental and social impact assessment studies already underway. Scotiabank mining analyst Ovais Habib said in a note on Tuesday that the results continue to build confidence in the mineralization and the potential to expand the scale of Blaffo Guetto. He estimates Didievi could produce approximately 200,000 ounces of gold annually once operational.

Montage shares rose 5.3% to C$16.24 in Toronto on Tuesday morning, giving the company a market value of approximately C$6.5 billion (US$4.6 billion). The stock has traded in a range of C$4.26 to C$17.60 over the past year.

Mineralization at Blaffo Guetto remains open along strike and at depth, while drilling has advanced several nearby targets that could contribute to future resource growth. Didievi is located in central Côte d'Ivoire, about 35 kilometers from the capital Yamoussoukro, within a gold-rich greenstone belt hosting multiple producing gold mines. The property's main deposit, Blaffo Guetto, hosts a high-grade, near-surface gold system that remains open in all directions. According to a 2025 resource estimate released by previous owner African Gold, an Australia-listed explorer, Didievi contains approximately 12.4 million tonnes of inferred resources at 2.5 grams per tonne gold, containing 989,000 ounces of gold. Montage said Tuesday that current drilling at the property will generate an updated resource estimate but provided no specifics.

Montage CEO Martino De Ciccio said in a press release that the latest drilling results continue to confirm the prospectivity of the Didievi project and its potential for rapid growth. He noted that the company will continue to leverage its proven expertise in exploration, permitting, and construction, as well as the strong trust relationships established locally, to execute its strategy of building a premier multi-asset African gold producer and unlocking value for all stakeholders.

Côte d'Ivoire is rapidly becoming a key jurisdiction for the Vancouver-based company. Montage is working toward first gold pour at the Koné mine later this year. According to a 2024 feasibility study, the Koné mine is expected to have a 16-year mine life, producing over 300,000 ounces of gold annually during the first eight years of operations. Montage's first foray into Didievi came in March 2025, when it gained an equity stake in the Australia-listed explorer African Gold through a strategic partnership and assumed exploration activities at the project. About three months ago, Montage acquired African Gold, bringing Didievi into its asset portfolio. Montage said Tuesday that 14 targets have been identified across the Blaffo Guetto, Pranoi, and Pokou mineralized trends.

Montage said drilling at Blaffo Guetto has extended mineralization over 1.3 kilometers along strike and down dip, confirming the continuity of high-grade mineralized lenses. High-grade, shallow intercepts have also been identified southeast of Blaffo Guetto, highlighting the potential for parallel shallow structures that will be followed up in the ongoing drilling program. National Bank Financial mining analyst Mohamed Sidibé said in a note on Tuesday that drilling at Didievi this year "should provide greater clarity on scale, continuity, and conversion to the indicated category." Other drilling highlights released Tuesday included hole BGRC26-095, which intersected 8.5 meters at 15.44 grams per tonne gold from 152 meters downhole, and 18 meters at 3.75 grams per tonne gold at a depth of 265 meters.